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Saudis Expand Price War Downstream

Green Car Congress

In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. The crude is so cheap it’s pretty much free for them, the margins are going to be massive. We see refining margins weakening on worsening diesel fundamentals, particularly east of Suez, though gasoline should be supportive.

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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

Green Car Congress

Under the central New Policies Scenario, automotive sales in non-OECD markets exceed those in the OECD by 2020, with the center of gravity of car manufacturing shifting to non-OECD countries before 2015. Oil and the Transport Sector: Reconfirming the End of Cheap Oil. Biofuels make the biggest such contribution, as use grows from 1.3

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